In North Carolina and throughout the country, buying and selling residential and commercial properties is an integral part of the business landscape. Even in a basic real estate transaction, however, complex issues may arise that are difficult to resolve. There are several ways to prepare that can help you protect your interests, whether you are the buyer or the seller.
Understand applicable laws and regulations ahead of time
In the state of North Carolina it is considered unlawful for a non-attorney to handle a real estate closing, so you will need to work with a licensed North Carolina attorney in order to close on a property. Furthermore, if you’re entering a contract with another person or group of people, it is critical to understand the legal implications of your contractual agreement. While your real estate agent may be able to answer some questions for you, it is a good idea to reach out to an attorney to make sure you understand what is required of you regarding contingencies, easements, mortgage issues, home inspections and more. Problems often arise when a person signs a contract, assuming that he or she understands real estate laws, only to find out later that he or she didn’t fully understand the terms of their contract.
Ask questions before signing anything
It’s understandable to want to close on a real estate deal as swiftly as possible, however, it’s always best to pause and ask questions if there are specific issues you don’t understand. If a legal dispute arises before signing a contract or afterward, it’s good to know where to seek support to help resolve the issue. Many people hire an experienced real estate law attorney from the start in order to have someone on hand who is well-versed in the applicable laws and regulations for buying or selling property.
What to do if a real estate transaction problem arises
At The Jonas Law Firm, P.L.L.C, an experienced real estate legal team is available to help ensure that you fully understand all terms of agreement before signing a contract. You can also request a meeting to ask for a review of a specific case if a dispute has arisen after you’ve already signed an agreement. Whether you’re the buyer or seller, acting alongside an experienced real estate law attorney can help you protect your interests from start to finish as you work toward closing a deal.